Page 1

                     Chase Manhattan Auto Owner Trust 2003-C
                         Statement to Certificateholders
                                January 18, 2005



                             DISTRIBUTION IN DOLLARS
CLASS             ORIGINAL        BEGINNING       PRINCIPAL        INTEREST           TOTAL   REALIZED    DEFERRED          ENDING
                      FACE        PRINCIPAL                                                     LOSSES    INTEREST       PRINCIPAL
                     VALUE          BALANCE                                                                                BALANCE
                                                                                            
A1          212,000,000.00             0.00            0.00            0.00            0.00       0.00        0.00            0.00
A2          286,000,000.00   165,676,126.41   25,346,040.56      220,901.50   25,566,942.06       0.00        0.00  140,330,085.85
A3          234,000,000.00   234,000,000.00            0.00      440,700.00      440,700.00       0.00        0.00  234,000,000.00
A4          243,000,000.00   243,000,000.00            0.00      595,350.00      595,350.00       0.00        0.00  243,000,000.00
CERT         25,000,000.00    25,000,000.00            0.00       57,916.67       57,916.67       0.00        0.00   25,000,000.00
TOTALS    1,000,000,000.00   667,676,126.41   25,346,040.56    1,314,868.17   26,660,908.73       0.00        0.00  642,330,085.85


                           FACTOR INFORMATION PER $1000 OF ORIGINAL FACE                                       PASS-THRU RATE
CLASS          CUSIP            BEGINNING       PRINCIPAL        INTEREST            TOTAL          ENDING  CLASS        CURRENT
                                PRINCIPAL                                                        PRINCIPAL             PASS-THRU
                                                                                                                            RATE
                                                                                             
A1         161581D86           0.00000000      0.00000000      0.00000000       0.00000000      0.00000000     A1      1.140000 %
A2         161581DC4         579.28715528     88.62251944      0.77238287      89.39490231    490.66463584     A2      1.600000 %
A3         161581DD2       1,000.00000000      0.00000000      1.88333333       1.88333333  1,000.00000000     A3      2.260000 %
A4         161581DEO       1,000.00000000      0.00000000      2.45000000       2.45000000  1,000.00000000     A4      2.940000 %
CERT       161581DF7       1,000.00000000      0.00000000      2.31666680       2.31666680  1,000.00000000   CERT      2.780000 %
TOTALS                       667.67612641     25.34604056      1.31486817      26.66090873    642.33008585


           IF THERE ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT,
                 PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW:

                                 Kelly M Crosson
             JPMorgan Chase Bank, N.A. - Structured Finance Services
                              4 NY Plaza, 6th floor
                            New York, New York 10004
                    Tel: (212) 623-5439 / Fax: (212) 623-5932
                        Email: kelly.crosson@jpmorgan.com

                 Copyright (C) 2001 J.P. Morgan Chase & Co. All rights reserved.


                                                                          Page 2

                     Chase Manhattan Auto Owner Trust 2003-C
                                January 18, 2005
                         STATEMENT TO CERTIFICATEHOLDERS



                                                                   
                     Due Period                                                        13
                     Due Period Beginning Date                                   12/01/04
                     Due Period End Date                                         12/31/04
                     Determination Date                                          01/10/05
Section 5.8(iii)     Servicing Fee                                             556,396.77
Section 5.8(iii)     Servicing Fee per                                   $1000 0.55639677
Section 5.8(iv)      Administration Fee                                          1,000.00
Section 5.8(iv)      Administration Fee per                              $1000 0.00100000
Section 5.8(vi)      Pool Balance at the end of the Collection Period      642,330,085.88
Section 5.8(vii)     Repurchase Amounts for Repurchased Receivable
                     By Seller                                                       0.00
                     By Servicer                                                     0.00
                     TOTAL                                                           0.00
Section 5.8(viii)    Realized Net Losses for Collection Period                 227,395.85
Section 5.8(ix)      Reserve Account Balance after Disbursement             14,452,426.93
Section 5.8(x)       Specified Reserve Account Balance                      14,452,426.93
Section 5.8(xi)      Yield Supplement Account Balance                        1,474,066.34
Section 5.8(xii)     Total Distribution Amount                              28,261,815.30
                     Servicing Fee                                             556,396.77
                     Administration Fee                                          1,000.00
                     Noteholders Distribution Amount                        26,602,992.06
                     Certficateholders Distribution Amount                      57,916.67
                     Deposit to Reserve Account                              1,043,509.80


                 Copyright (C) 2001 J.P. Morgan Chase & Co. All rights reserved.